Bitcoin Remains Steady at $75,000 as Investors Seek Profit

Bitcoin, currently at $75,598.50, continues to trade near the $75,000 mark as it encounters a supply wall despite consistent institutional demand. Traders are closely monitoring the progress of the U.S.-Iran peace talks during the two-week ceasefire period. Over the past 24 hours, the CoinDesk 20 index has seen a 1.9% increase, slightly outpacing bitcoin's 1% gain, as reports of a potential ceasefire extension contribute to improved risk sentiment. The uptrend is also supported by a weakening U.S. dollar, which has reached a near six-week low, and declining Treasury yields. These conditions often favor crypto prices by reducing the appeal of holding cash. Additionally, gold prices have risen, indicating a market that is balancing risk appetite with hedging demand. However, the overall outlook remains uncertain due to the U.S. blockade of Iranian ports and Iran's threats to disrupt shipping routes in the Persian Gulf and surrounding waterways, which continue to impact the global economy. The onset of energy supply shocks is already influencing inflation expectations, a factor that could lead to changes in central bank policies and have a ripple effect on crypto markets. On-chain data reveals that bitcoin supply often increases when prices reach key cost-basis levels for short-term holders, around $76,800. This level could serve as a resistance point as investors sell when they break even. Derivatives positioning and token trends are also being closely watched.